November Wage Growth Is Weaker Than Expected

CONCLUDEDJobs Report Today: U.S. Added 64,000 Jobs in November.

Unemployment Rate Jumps to 4.6%.Last Updated: 1 day agoNovember Wage Growth Is Weaker Than ExpectedByMegan LeonhardtThe average hourly earnings for all employees on private nonfarm payrolls grew by just 0.1% in November from the previous month. Compared with a year ago, wage growth measured just 3.5%.That’s much weaker than economists expected to see in last month’s data. Economists surveyed by FactSet had predicted that wages grew by 0.3% month over month, which translated to an annual growth rate of 3.6%.The number of hours worked, however, edged up slightly. The average workweek for all employees on private nonfarm payrolls was 34.3 hours last month, up by 0.1 hour.